Almaty, May 28, 2025 — The international rating agency Fitch Ratings has assigned Jet Finance (legal entity: MFO “Mogo Kazakhstan” LLP) long-term Issuer Default Ratings (IDRs) in foreign and local currency at ‘B-’ with a ‘Stable’ outlook. Fitch also assigned the company a national long-term rating of ‘B+(kaz)’ with a ‘Stable’ outlook. Jet Finance has become only the sixth company in Kazakhstan’s consumer finance sector to receive such a rating.
The assigned rating reflects Jet Finance’s stable business model focused on secured lending to clients with limited banking history, primarily backed by vehicles, as well as a digital approach to approval and servicing processes. Fitch also noted the company’s high profitability, gradual diversification of funding sources, and growing scale of operations. The assignment of an international rating opens new opportunities for Jet Finance, including attracting funding, launching new products, and entering broader partnership markets both in Kazakhstan and abroad.
«Recognition by Fitch Ratings is a strategic achievement that confirms we are building a next-generation company. We demonstrate that sustainability, technology, and transparency can and should be the foundation of a microfinance organization. This is not just recognition — it is a foundation for further growth and strengthening the trust of investors, clients, and partners», said Azamat Seitbekov, CEO and founder of Jet Finance.
Jet Finance was founded in 2018 and has since been consistently transforming into a digital platform with a sustainable approach to lending. The company uses its own IT platform, ensuring a full lending cycle. Jet Finance operates several business lines under its own brands: Jet Car, Jet Money, Jet Auto and Autopark Monitoring, providing innovative financial and service solutions for both individuals and SMEs.
Official announcement by Fitch Ratings: https://www.fitchratings.com/research/ru/non-bank-financial-institutions/fitch-rates-microfinance-organisation-mogo-kazakhstan-at-b-outlook-stable-27-05-2025
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